SSI Securities Company has launched SSI Digital Technology Joint Stock Company (SSI Digital), a subsidiary specializing in digital technology, with a strong focus on digital assets and blockchain. With an investment scale of up to US$200 million, SSI Digital has already partnered with major global exchanges including Binance, OKX, Bybit, and the VanEck investment fund, positioning itself for entry into Vietnam’s digital asset market.
According to SSI Digital General Director Mai Huy Tuan, the company has built robust technical infrastructure, established security standards, and researched daily trading methods to ensure safe operations once legal frameworks for digital assets are in place. Tuan emphasized that with more than 20 million Vietnamese currently holding digital assets, this represents a market opportunity that cannot be overlooked.
Commercial banks are also making swift moves into the sector. On August 12, Military Bank (MB) signed a Memorandum of Understanding (MOU) with Dunamu, operator of Upbit—the world’s third-largest crypto exchange based in Korea. Under the agreement, Dunamu will assist MB in establishing a cryptocurrency exchange in Vietnam and help design investor protection mechanisms.
Similarly, Techcombank Chairman Ho Hung Anh affirmed that blockchain and digital assets are integral to the bank’s long-term digital transformation strategy. VPBank General Director Nguyen Duc Vinh acknowledged the risks but stressed that financial institutions can't remain outside this emerging sector. BIDV leaders noted that digital asset exchanges will primarily be operated by private enterprises, while BIDV aims to play a supporting role by providing payment infrastructure and partnering with qualified organizations.
Industry experts are optimistic about Vietnam's potential. Binance's Country Director Lynn Hoang described Vietnam as one of the most dynamic markets for digital asset adoption due to its large user base, strong technology infrastructure, and supportive policy environment. However, she cautioned that the lack of a legal framework, along with issues in capital flow management and human resource development, remain significant challenges.
Other experts highlighted the importance of fostering a collaborative ecosystem. They suggest focusing on community building, international partnerships, and supporting startups, universities, and investors to create a transparent and sustainable digital asset market in Vietnam.
